Hong Kong university accommodation shortages could reach 100,000 units by 2028 as the number of non-local students pursuing studies in Hong Kong universities has been increasing year after year, said Kathy Lee, head of research and retail consultancy at Colliers Hong Kong.
Wong noted that with the number of non-local students expected to continue rising, demand for university accommodations remains strong. Some universities have partnered with hotels to convert hotel rooms into student accommodation.
Wong said converting hotels into student accommodation involves relatively low renovation costs and can secure occupancy rates. Universities leasing a large number of rooms under bulk rental arrangements typically receive discounts, though hotels would have less bargaining power over future rent increases.
